US Imports $1.34 Billion Nigerian Crude Despite Tariffs, but Trade Surplus Turns Negative

Despite a wave of protectionist trade measures from the U.S., Nigeria remained America’s top African crude oil supplier between January and May 2025, exporting $1.34 billion worth of crude oil. U.S. government data confirmed that 17.39 million barrels of Nigerian crude were imported during this period, though this marked a 12.7% drop in volume and an 11.8% decline in value compared to the same period in 2024. Still, Nigerian oil made up over 62% of all U.S. crude imports from Africa—far outpacing other producers like Libya, Angola, and Ghana.

However, while oil exports held relatively firm, Nigeria’s broader trade performance with the U.S. has deteriorated. Total U.S. imports from Nigeria dropped by nearly $527 million year-on-year to $2.12 billion. This slump was driven primarily by a sharp reduction in non-oil exports, which suffered under newly imposed U.S. tariffs. President Donald Trump’s April 2025 executive order introduced a 10% blanket import tariff, with Nigeria facing a stiffer 14% rate due to its prior trade surplus with the U.S. Crude oil was exempted, but agriculture and manufacturing sectors bore the brunt of the new restrictions.

At the same time, U.S. exports to Nigeria surged by 17.8%, reaching $2.42 billion in the first five months of 2025. This reversed the previous trade dynamic, turning Nigeria’s $596 million trade surplus in early 2024 into a $295 million deficit by May 2025. In May alone, America exported $515 million worth of goods to Nigeria, while importing only $400 million, giving the U.S. a monthly trade advantage of $115 million. A key contributor was the automotive sector, with vehicle and parts exports totaling $426 million.

The shift in trade patterns has also impacted Nigeria’s relative standing in U.S.-Africa trade. Nigeria now represents just 10.8% of U.S. imports from Africa and 14.8% of its exports to the continent. Meanwhile, Egypt has overtaken Nigeria as the top African destination for U.S. exports, with a 76% year-on-year increase to $3.43 billion. On the import side, South Africa continues to lead, with the U.S. bringing in $8.67 billion worth of goods from the country in the same five-month period.

These trends raise concerns about Nigeria’s competitiveness in U.S.–Africa trade. While crude oil still drives Nigeria’s bilateral trade with the U.S., its heavy reliance on oil and limited diversification may continue to erode its economic position. As global trade realigns in response to tariffs and shifting geopolitical priorities, Nigeria’s ability to remain a key player in transatlantic commerce will depend on structural reforms, economic diversification, and strategic engagement with its trading partners.

Source: Nairametrics